MAS-IP: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
MAS-IP
Largest movements
- Cash +€22,909
up €22,909 (+172.7%), from €13,262 to €36,171
mainly Net result for the year (+€18,406) and Receivables within one year (+€6,104)
- Receivables within one year -€6,104
down €6,104 (-84.8%), from €7,201 to €1,097
of which Trade receivables: -€6,313
- Tangible fixed assets +€4,571
up €4,571 (+5830.3%), from €78 to €4,649
of which Furniture and vehicles: +€4,119
- Deferred charges and accrued income -€2,808
down €2,808 (-58.4%), from €4,807 to €1,998
- Profit (loss) carried forward +€18,406
new in 2025: €18,406
- Tax, wage and social debts +€3,447
up €3,447 (+241.7%), from €1,426 to €4,873
- Other debts -€3,101
down €3,101 (-24.3%), from €12,754 to €9,653
- Gross operating margin -€5,696
down €5,696 (-18.0%), from €31,622 to €25,926
- Taxes +€4,873
new in 2025: €4,873
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Cash bridge derived
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €38,948 | €57,516 | +€18,567 | +47.7% |
| Fixed assets | 21/28 | €13,678 | €18,249 | +€4,571 | +33.4% |
| Tangible fixed assets | 22/27 | €78 | €4,649 | +€4,571 | +5830.3% |
| Plant, machinery and equipment | 23 | €78 | €530 | +€452 | +576.4% |
| Furniture and vehicles | 24 | - | €4,119 | +€4,119 | |
| Financial fixed assets | 28 | €13,600 | €13,600 | = | 0.0% |
| Current assets | 29/58 | €25,270 | €39,266 | +€13,996 | +55.4% |
| Amounts receivable within one year | 40/41 | €7,201 | €1,097 | -€6,104 | -84.8% |
| Trade receivables | 40 | €7,185 | €872 | -€6,313 | -87.9% |
| Other amounts receivable | 41 | €17 | €225 | +€209 | +1261.7% |
| Cash at bank and in hand | 54/58 | €13,262 | €36,171 | +€22,909 | +172.7% |
| Deferred charges and accrued income | 490/1 | €4,807 | €1,998 | -€2,808 | -58.4% |
| Total equity and liabilities | 10/49 | €38,948 | €57,516 | +€18,567 | +47.7% |
| Equity | 10/15 | €24,584 | €42,990 | +€18,406 | +74.9% |
| Contributions | 10/11 | €3,500 | €3,500 | = | 0.0% |
| Reserves | 13 | €21,084 | €21,084 | = | 0.0% |
| Distributable reserves | 133 | €21,084 | €21,084 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | €18,406 | +€18,406 | |
| Amounts payable | 17/49 | €14,364 | €14,526 | +€161 | +1.1% |
| Amounts payable within one year | 42/48 | €14,364 | €14,526 | +€161 | +1.1% |
| Trade debts | 44 | €184 | - | -€184 | |
| Suppliers | 440/4 | €184 | - | -€184 | |
| Taxes, remuneration and social security | 45 | €1,426 | €4,873 | +€3,447 | +241.7% |
| Taxes | 450/3 | €1,426 | €4,873 | +€3,447 | +241.7% |
| Other amounts payable | 47/48 | €12,754 | €9,653 | -€3,101 | -24.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €329 | €603 | +€274 | +83.2% |
| Other operating charges | 640/8 | €1,772 | €1,895 | +€123 | +6.9% |
| Gross operating margin | 9900 | €31,622 | €25,926 | -€5,696 | -18.0% |
| Operating profit (loss) | 9901 | €29,521 | €23,429 | -€6,093 | -20.6% |
| Financial charges | 65/66B | €135 | €150 | +€15 | +11.1% |
| Recurring financial charges | 65 | €135 | €150 | +€15 | +11.1% |
| Profit (loss) for the period before taxes | 9903 | €29,386 | €23,279 | -€6,108 | -20.8% |
| Income taxes | 67/77 | - | €4,873 | +€4,873 | |
| Profit (loss) for the period | 9904 | €29,386 | €18,406 | -€10,980 | -37.4% |
| Profit (loss) for the period to be appropriated | 9905 | €29,386 | €18,406 | -€10,980 | -37.4% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.